3 Things I'm Doing During the Crypto Correction
The crypto correction (crash, dip, whatever you want to call it) is here in full force, with Bitcoin barely hovering above $8,000 and most altcoins 60% off their all-time highs. With the market getting smashed right now, I'm taking a step back to set myself up for future success. Here is how I'm doing it:
- Consolidating my positions of highest conviction
- Doubling down on research.. Now is the time in my opinion to really deepen your understanding and knowledge of the crypto markets.
- Evaluate potential ICO opportunities (if they're still out there)
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** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**
In log scale things don't seem too bad... you could even say we're still in a bull market
I just posted this: https://steemit.com/steemit/@verydicey/cryptocurrency-market-still-holding-uptrend-in-log-scale
I can hear that
Good time to buy. Good time to HODL. Worst time to sell.
Yes i agree. Just bought Bitcoin at 7,200 nice discount.
good purchase
you're right! hold
With doubling down on research, do you mean technical analysis?
If yes, this might be relevant: https://steemit.com/bitcoin/@smallstepschange/reaking-btc-technical-analysts-warn-the-bearish-frightened-cat-pattern-is-forming-bitcoin-is-doomed
😁 (be warned, this is leads to a satiric post about technical analysis and a Steemit contest)
I did some light shopping. Really just added to my ETH and BTC pile. (small pile that it is)
Added a few EOS and well some STEEM
Part of me wishes I sold everything Jan 1st could double is not triple some holdings.
Coins mentioned in post:
Got into Bitcoin at 17,000 a couple days before it it 19,000 crazy how this market works. I Do believe in the Tech so this is a great discount to buy crypto.
Really great post at a perfect time as well to prevent more people from panic selling. I look at this dip as a means to do things you can't do when the market is climbing at an unprecedented rate. This includes, like you mentioned, further research and looking into potential ICOs. With my research, I have come across some great ideas, my favorite being the outlook of participating in NEO ICOs, as they have incredible potential on that platform. For example, Bridge Protocol's whitelist opens in a few hours and is available to US citizens! I see this as my next short-term move and I'm looking into further long-term moves to use this dip to gain a further understanding and intelligence of the market. Great post and thank you for the information Crypto Bobby!
Deepening understanding is good though, but moving towards ICOs despite the scams, frauds (whatever you say) is rather risky.
Well, best of Luck and take calculative risk for sure.
Definitely a good time to do homework and invest in yourself as well. It will lead to better, rational decisions. No need to rush in now as we will have good opportunities to get in for the long term.